International Steel Market Daily: Chinese HRC exporters try to make offers to Europe.（2022.3.31）
[Hot spot tracking]
According to Mysteel, Chinese hot-rolled coils began to offer to the European market this week, and the offer level was around US$1,300/ton CIF. Before that, India was the main supplier of hot-rolled coils to the European market, and the price level was 1250-1400 USD/ton CFR.
[Export from China]
[International Industry News]
Weekly output of crude steel in the United States (as of 26th March)
For the week ended March 26, 2022, domestic crude steel production in the United States was 1.726 million short tons, and the capacity utilization rate was 79.4%. This week (as of March 26) production was up 2.4% year-over-year and down 0.9% month-on-month。
Tosyali Algeria plans to increase its annual production capacity to 8.5 million tons
Mysteel learned that the subsidiary of tosyali, one of Turkey's largest steel producers, located in Algeria, will build a direct reduction iron plant with an annual capacity of 2.5 million tons and a flats plant with an annual capacity of 4 million tons, which is expected to increase the total steel production capacity from the current 4.2 million tons/year to 8.5 million tons/year.
U.S. cold rolled coil imports fell 26% month on month in February
According to preliminary data from the U.S. Department of Commerce (USDOC) Census Bureau, the U.S. imported about 121,500 metric tons of cold rolled coil in February, down 26% month-on-month but up 24% year-on-year.
Ukraine loses 40% of steel capacity
According to related reports, the regional conflict has caused Ukraine to lose up 40% of its overall steel making capacity.
[Excerpt from international prices]
